Royal DSM NV has inked an agreement to become the majority shareholder in China-based Shandong ICD High Performance Fibre Co. Ltd. (ICD), a manufacturer of ultra-high-molecular-weight polyethylene (UHMWPE) fiber. According to DSM, ICD is a strong player in the high-performance fiber market in China, and the acquisition will strengthen DSM's position in that market, bringing complementary technologies and manufacturing resources.
"China is a key market for DSM and we will continue to grow our long term commitment to it," said Nico Gerardu, DSM Managing Board member responsible for DSM's Performance Materials cluster. "We have invested significant time and effort to identify the right partner to ally with for this acquisition and we are extremely excited about the prospect of bringing ICD into the DSM portfolio." "This is an exciting development for everyone at ICD and I believe it will help to secure our future growth and success in the Chinese UHMWPE fiber market," said Ren Yi, general manager, ICD.